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Argon Gas Market is Witnessing High Growth Due to the Continues Growth of the Industrialization Specifically in Developing Countries

Posted onJune 7, 2016

The argon gas market is projected to grow at a CAGR of 4.92% from 2015 and 2020. The growth in this market is propelled by continuous growth in industrialization, especially in developing economies; increasing need for electronic products; growth in the food & beverage sector; and growing energy demands.

The argon gas market in the Asia-Pacific region is expected to register the highest growth by 2020 owing to significant investments in the argon gas industry, as well as its growing economy

The growth of this region is supplemented by the growing infrastructural activities in developing economies such as India and China. The rising demand for argon gas market in numerous end-use industries such as electronics, metal manufacturing & fabrication, healthcare, chemicals, energy is expected to drive the market for argon gas globally. The electronics market is one of the major users of argon gas which are critical to the flat panel display market. They are used for creating controlled atmosphere necessary for building semiconductor devices. In addition to this, key factors such as robust economic development, expanding automotive sector, and rapid urbanization are projected to drive the growth in the argon gas market in the coming years.

This report covers the argon gas market in four major regions, namely, North America, Europe, Asia-Pacific, and RoW. The argon gas market is segmented on the basis of end-use industry, storage, distribution & transportation, mixture, function, and region. The metal manufacturing & fabrication segment is projected to be the fastest-growing end-use industry in the next five years. The cylinder & packaged gas distribution segment is projected to dominate the argon gas market, by storage, distribution & transportation from 2015 to 2020. In terms of mixtures, the argon-carbon dioxide gas mixture is the fastest-growing segment, followed by the argon-oxygen gas mixture.

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